Pico Reaches Agreement to Acquire Corvil, Plans Corvil-as-a-Service
Pico has reached a definitive agreement to acquire Corvil, a deal that will create a powerhouse providing managed trading technology services underpinned by sophisticated real-time performance analytics. The acquisition will combine Pico’s trading technology services with Corvil’s performance monitoring and analytics products to help clients gain greater insight into Pico’s managed electronic trading environments. Existing...
Date: 12 September 2019 Time: 10:00am ET / 3:00pm London / 4:00pm CET. Fundamental Review of the Trading Book (FRTB) regulation requires firms within its scope to source significant amounts of data, some of which has not previously been required and is difficult to pin down. The data management challenges of the regulation’s Internal Model…
Now in its 8th year, the Data Management Summit (DMS) in NYC explores the shift to the new world where data is redefining the operating model and firms are seeking to unlock value via data transformation projects for enterprise gain and competitive edge.
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The EU’s MiFID II and other regulations globally have placed greater emphasis than ever on market surveillance, recording of trading communications and records-retention processes in an attempt to stamp out market abuse and boost investor confidence and protections. At the same time, the public’s attitude toward data privacy has hardened, most visibly through new regulations…
Velocimetrics has released version 9.0 of its VMX EndToEnd business flow tracking and real-time, in-stream performance analytics, making a step change in functionality and recognising the trading industry’s move towards devops and need for an holistic understanding of all data across the business, as well as a detailed view of specific trading processes. VMX EndToEnd...
Alongside the UK’s Financial Conduct Authority (FCA) Annual Report and Accounts 2018/19 released this week, the regulator also published its Anti-Money Laundering (AML) Annual Report. Part of a wider focus on financial crime (which includes the National Risk Assessment of Money Laundering and Terrorism Financing of November 2017 and an FCA thematic review on capital...
UK regulators are stepping up their efforts to digitise regulatory reporting over the next few years. The changes the Bank of England (BoE) and the Financial Conduct Authority (FCA) propose – and which are being developed jointly with the industry – promise a transformation in the way data flows between supervisors and financial services firms....
The global shift toward unbundling of research services from execution is forcing sell-side institutions to focus on differentiating their service offerings as they vie for buy-side liquidity in an increasingly competitive marketplace. With soft-commissioned research and high-speed connectivity to trading venues no longer potent as differentiators, the sell side is acknowledging that the quality and...
Listen to the related webinar here. Knowledge is money in capital markets and alternative data is fast becoming part of that knowledge, but it is not always easy to source, evaluate, integrate and use to best effect. The data may be incomplete, unstructured, include data that isn’t permitted for redistribution under privacy laws, and have...
The cryptocurrency market is at an inflection point. It has gained substantial momentum from early investors (private & retail), day traders and prop shops but it has so far failed to get substantive engagement from wider institutional players. The crypto marketplace today is a mix of exchange and OTC-traded activity with little of the market...
Markets in Financial Instruments Directive II (MiFID II) builds on the original MiFID of 2007 to improve the competitiveness of European markets by creating a single market for investment services and activities, and ensuring protection for investors in financial instruments. Read everything you need to know and get access to all related content.
Data lineage traces data from source to destination, noting every move the data makes and taking into account any changes to the data during its journey for full traceability. It is critical to regulatory compliance and offers numerous business and operational benefits. Read all about what it is, who it impacts, what the challenges and potential solutions are, as well as review our latest content on the topic and a list of solutions providers.
Regulatory reporting comprises the submission of raw or formatted data as required by regulators to evaluate and track the financial and operational status of financial institutions and their compliance with required regulatory provisions. Find out all about it in our Knowledge Hub.
3d innovations (3di) has launched version 6 of its vendor analysis tool Profiler, a web-based tool that provides comparative and benchmarking information on market and reference data services, and associated technologies. Version 6 provides an enriched catalogue of alternative data vendors covering multiple industries beyond financial services and delivering unique datasets from non-traditional sources that…
Traiana, a provider of infrastructure service for trade lifecycle solutions, has introduced a service that will automate post-trade lifecycle management of the equity swaps market. The Equity Swaps Lifecycle Management service normalises data reported by swap providers and conducts reconciliation and affirmation of daily valuations, payments and legal confirmations to identify any changes to underlying…
Responding to market demand for unique and differentiated data, S&P Global Market Intelligence has released Trucost environmental data through its data feed platform Xpressfeed. Trucost, part of S&P Global, is a provider of carbon and environmental data and risk analysis. The environmental data is the first of several planned initiatives and releases from Market Intelligence…
FactSet, a global provider of integrated financial information and analytical applications, has announced the release of FactSet KYC, a cloud-based SaaS application that allows clients to streamline their KYC due diligence. The new RegTech app combines KYC robotic process automation with FactSet content and public registries, to improve the efficiency and consistency of the customer…
Velocimetrics has implemented an enterprise-wide data lineage proof-of-concept at a major European bank. Driven by regulation BCBS 239, the bank wanted to achieve automated intra-day reconciliation, correlation and trade netting, but was already challenged to achieve T+1. The primary compliance requirement was to show completeness of reporting, although the project is already showing additional value…
The European Banking Authority (EBA) has warned that the EU’s biggest banks could face a funding gap of up to £135bn in order to comply with Basel IV, an updated set of post-crisis regulations expected to be phased in from 2022 and be in full force by 2027. The EBA estimates that banks could face…
The Johannesburg Stock Exchange (JSE) has partnered CME Group, a derivatives marketplace, to offer its first cloud solution. The move modernises JSE’s market data offering that now includes historical equity, equity derivatives, and currency derivatives in the cloud. The historical tick data will enable clients, traders and investors to assess trading opportunities, strengthen their market…
Dion Global Solutions has released a corporate actions solution. Already live with two pilot customers, the solution is designed to make corporate actions processing cost effective for the smallest industry participants and scalable for the largest. It aims to decrease manual processing by increasing automation, and reduce risk by ensuring no event is missed or…
Following on from its recent expansion into Singapore, UK-based regtech firm ClauseMatch has announced its first partnership in the region, with independent consultancy Ingenia. The alliance aims to provide ‘Compliance-as-a-Service’ for small and medium-sized financial institutions in Singapore, based on Ingenia’s existing service of developing and maintaining compliance networks for financial institutions who outsource their…
US regtech start-up Coinfirm has signed an agreement with San Francisco-based Ripple, the company behind cryptocurrency XRP, to investigate the crypto’s compliance with AML regulations. The move comes in advance of a planned crackdown by US authorities on cryptocurrency exchanges, following an announcement by the Financial Action Task Force report in June of tighter regulation…
Belfast software solutions provider Datactics has raised £1.2m from the Bank of Ireland Kernel Capital Growth Fund (NI) in its second round of funding, completing a package commenced in 2018. “Seldom does a day go by where the possibilities of machine learning aren’t being discussed, and everything we are hearing from industry agrees that any…
German tech consultancy Comyno has partnered with Luxembourg trade repository REGIS-TR to provide an integrated SFTR solution with straight-through processing for mutual clients. The alliance will connect Comyno’s C-ONE SFTR solution to REGIS-TR’s test environment, offering clients early validation and testing in advance of implementation.
San Francisco-based software application provider Calypso Technology has partnered with IHS Markit to offer seamless connectivity for SFTR reporting, from the booking of the trade through to the trade repository, providing a comprehensive end-to-end view of the reporting. Common clients will benefit from a single interface to the trade repositories of their choice, with data…
IHS Markit has partnered with regulatory reporting and intelligence solutions provider Cappitech to deliver its SFTR solution via Cappitech’s reporting platform Capptivate. The alliance aims to automate and streamline transaction reporting to trade repositories for all securities finance instruments. It will also support out-of-the-box MiFID II reporting for additional instruments that will be in scope…
The European Securities and Markets Authority (ESMA) will hold an open hearing on its consultation paper published on May 27, 2019 on draft Guidelines for the reporting under the Securities Financing Transactions Regulation (SFTR). The hearing will take place on July 15, 2019 at the ESMA headquarters in Paris.
High-performance trading technology supplier Rapid Addition has named Mike Powell CEO, reporting to Executive Chairman and FIX guru Kevin Houstoun. Powell is former managing director for the enterprise division of Thomson Reuters, now known as Refinitiv, responsible for the company’s core data feed and platform business under the Elektron brand. Powell has been working as…
DataRobot, an enterprise AI firm, has named Rob Hegarty as general manager of financial markets and FinTech with the remit to expand the company’s reach in these sectors. DataRobot helps clients build and deploy machine learning models to increase revenue, improve efficiency and client experience, and reduce risk. Before joining DataRobot, Hegarty was the founder…
TORA, a cloud-based order and execution management system (OEMS) provider, has appointed Thomas Mullooly as head of US sales. In making this appointment, TORA seeks to expand its US sales channels and ensure the value of its OEMS platform is communicated to the global market. Mullooly reports to TORA managing director Chris Jenkins, and joins…
Smart desktop integrator Glue42 has named Sean Stephens chief revenue officer with a remit to expand global sales efforts and help customers realise measurable value. Stephens reports to chief operating officer James Wooster. Glue42 CEO Leslie Spiro, says: “Our headcount is now in excess of 100 employees, the majority of whom are focused on engineering…
Financial Machineries, a provider of data lineage, sourcing, digital rights management and commercialisation of contributed market data, has appointed Keiren Harris, Frank Verstraeten and Daniel Muri to its team. They bring industry experience, regional insight, and networks of professional contacts from across APAC and continental Europe to the company, which is accelerating its ambition to…
ULTUMUS, a provider of data creation, management and distribution services for index and ETF products, has hired industry veteran Femi Orangun. Orangun joins the company from DeltaOne Solutions, part of IHS Markit, and takes on the role of solutions architect with a remit to assist development of the ULTUMUS data platform and production of advanced…
Refinitiv has appointed William Leahey as head of regulatory compliance for wealth management. In this role, Leahey will lead all regulatory activities for the wealth management business, identifying key regulatory developments, risks and initiatives for customers. Before joining Refinitiv, Leahey was vice president and assistant general counsel of the operations and technology group at the…
Axyon AI, a provider of artificial intelligence (AI) for capital markets, has named Frank Abbenhuis as chief commercial officer with responsibility to oversee the company’s expansion from Modena, Italy, to London and drive client development. Axyon AI products can solve problems such as anticipating the market impact of economic events to suggesting future syndicated loans…
FlexTrade, a provider of cross-asset execution and order management systems (EOMS), has appointed Lak Loi and Vahid Shirani as co-heads of sell-side OMS business development for the EMEA region. Both Loi and Shirani come to FlexTrade with more than 25 years of combined experience in equities and derivatives trading technology. Since 1997, Loi has worked…
Ascent RegTech on April 15 announced the hiring of Arbela Takhsh as Chief Operating Officer. Arbela has held various engineering and operational leadership roles at Motorola, Google, Comcast, and most recently as Senior Vice President of Operations Excellence, Quality, and Data Analytics & Business Intelligence at Gogo. The Ascent team has grown rapidly since the…
The Depository Trust & Clearing Corporation (DTCC), a provider of post-trade infrastructure for the global financial services industry, on April 9, 2019 announced the election of three new members to DTCC’s Board of Directors during the firm’s Annual Shareholders Meeting. The new directors are Kieran Hanrahan from JP Morgan Chase’s Corporate and Investment Bank, Graeme…
Global regulatory and financial crime, risk and compliance company Exiger has named Alex Ceponkus as Senior Vice President and Global Head of Software Engineering of Exiger Tech, based in Toronto. Ceponkus’ new role will be to drive innovation, scale and delivery of Exiger’s technology solutions and increase the reach of its product suite (including its…
Transaction Lifecycle Management solutions provider SmartStream this week announced a new strategic focus in line with the new FSA (now PRA) rules governing liquidity management for UK and foreign branches. In response to the new regulations, SmartStream has appointed Nadeem Shamim to lead cash and liquidity management solutions globally. Prior to SmartStream, Shamim was Managing…
GoldenSource has named Ramesh Pulandaran as head of sales for Asia-Pacific reporting to managing director of global sales and client operations Neill Vanlint. Pulandaran is based in Singapore and will help GoldenSource grow its customer base in the Asia-Pacific region. Pulandaran has more than 18 years of experience in financial services, including stints at SunGard…
Confluence, a provider of investment data management automation for regulatory, financial and investor reporting, has named Joe Bree as senior global strategic account executive. He has responsibility for expanding Confluence’s global relationships with fund and asset management clients, as well as other service providers and intermediaries. He will also work with the broader Confluence sales…
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